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Archive for October, 2008

Daily Forex Analysis – October 2, 2008

Thursday, October 2nd, 2008

AUDUSD Analysis.
AUDUSD’s fall from 0.8519 extends to as low as 0.7856 level. Deeper decline could be seen to retest 0.7802 previous low support. As long as this level holds, we’d expect up trend to resume, and one more rise above 0.8519 is possible. However, a break down below 0.7802 level will signal resumption of down trend, and the first target would be at 0.7400 zone.

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Daily Forex Analysis – October 1, 2008

Wednesday, October 1st, 2008

USDJPY Analysis.
USDJPY breaks below 103.54 and rebounds sharply from 103.49. A short term cycle bottom has been formed, and further rally towards 108.00 is possible in a couple of days, however a break of 107.01 previous high resistance is needed to confirm such case.

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